“Revolutionary” wind turbine business wins investment from Green Angel Syndicate
Green Angel Syndicate is proud to announce the completion of its latest investment: Spinetic Energy Limited, the company behind a new concept for generating small scale wind power. Spinetic has developed the Wind Panel, a low cost device which is easy to deploy, and will do for local wind energy generation what photovoltaic panels have done for solar energy.
Worldwide, around $100 billion is spent annually installing large utility scale wind turbines of over 1MW. This is comparable to the amount invested annually in large scale solar PV installations. Utility scale wind turbines get larger and larger in order to create economies of scale, creating a major problem for onshore wind in most locations.
Some $60 billion is spent annually on small scale solar PV installations of less than 1MW. This has the advantage of generating electricity close to where it is needed, so long as the sun is shining. A fraction of this amount – $3 billion per annum – is spent on small scale wind power, even though in many parts of the world the wind blows more strongly in winter (when solar panels suffer from limited hours of daylight) and also at night or in bad weather when the sun is obscured by clouds.
The reason for this is that no low cost, unintrusive, easy to deploy, wind power technology existed – until Spinetic applied their unique engineering skills, honed in the automotive sector, to cracking this problem with their multi-patented Wind Panel design.
Simon Acland, Green Angel Syndicate Director, said, “Spinetic will do for small scale wind power what photovoltaic panels have done for solar power. Our research showed that no company worldwide has come close to achieving what Spinetic has done over their last five years of product development. There is a huge market opportunity to replace environmentally damaging diesel generators with Wind Fences, initially in remote off-grid and grid edge applications.”
Nick Goddard, Spinetic CFO, said, “We are delighted to have attracted such knowledgeable specialist investors to join our existing angels and institutional shareholders IP Group and Lark. We passed the tough Green Angel Syndicate due diligence process with flying colours, which in itself provides a powerful validation for our plans. GAS has already begun to add value to our business by making valuable commercial introductions.”
About Green Angel Syndicate:
- Green Angel Syndicate is the only specialist green angel syndicate in the UK, made up of a network of smart investors who are committed to the transition to a greener economy. We support early stage technology companies developing products and solutions specifically for a more efficient and sustainable use of global resources.
- If you want to find out more about becoming a green angel, contact Nick Lyth at firstname.lastname@example.org